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Thomas Long, Course Instructor
Canada also released some bullish job numbers this morning, more bullish perhaps than the US numbers. So the potential for a trend change from bearish to bullish on the USD/CAD would appear to be less likely than a general trend change of the USD when paired with other currencies. This daily chart of the USD/CAD shows that the trend is down and will remain down as long as the pair remains below 1.0867, although a move up through 1.0749 would certainly increase the chance of that happening.

I would continue to look for selling opportunities, particularly on the move down through the 1.0404 low, as long as the USD/CAD remains below the 1.0749 level.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.